Uranium Energy Corp Acquires the Diabase Project in the Athabasca
Basin and Appoints Darcy Hirsekorn as District Geologist

Corpus Christi, TX, February 9, 2018 - Uranium Energy Corp (NYSE
American: UEC, the Company or UEC -
https://www.youtube.com/watch?v=LbF_wuFtWjA&t=255s) is pleased to
announce that the Company has closed a definitive Property Purchase
Agreement (the Agreement), with Nuinsco Resources Limited (Nuinsco)
to acquire 100% of the Diabase project (the Diabase Project or
Project) located on the south rim of the Athabasca Basin uranium
district in Saskatchewan, Canada.

Acquisition Highlights

- Total consideration for the acquisition is approximately $500,000
comprised of $240,000 in cash and 164,767 shares (at a deemed
issuance price of $1.60 per common share).
- The property has seen in excess of US$ 20 million in historical
exploration work, including over 21,000 meters of diamond
drilling, geophysical surveying and surficial sampling data.
- The Project delivers a significant land package of 21,949
hectares, which overlies a highly prospective regional corridor
within 75 km of Camecos Key Lake mill in a stable and leading
jurisdiction for uranium exploration and mining.
- Efficient acquisition that preserves balance sheet flexibility in
the bottom of the uranium cycle at less than 0.1% dilution to
current UEC shareholders.

Clyde Yancey, VP-Exploration, stated: Our acquisition strategy
focuses on low cost, high value projects, the Diabase project is
consistent with those objectives and UEC gains an opportunistic
foothold in the Athabasca Basin. The project is an excellent
addition to our pipeline of exploration properties for future
development in a premier uranium district. We are also pleased to
welcome Darcy Hirsekorn and his two decades of Athabasca Basin
exploration experience to the Companys geological team.

Acquisition Details

UEC has now acquired the Diabase Project from Nuinsco for US$
500,000 in aggregate consideration consisting of approximately: (i)
US$ 240,000 in cash paid to Nuinsco and (ii) the issuance of 139,418
common shares to Nuinsco and 25,349 common shares to the original
Project property owner.

Darcy is a seasoned professional geoscientist with over 20 years
of experience in the exploration field working with Cameco
Corporation. Darcy held increasingly senior roles with the company
culminating in the position of District Geologist in 2016. He was
part of an exploration group that outlined over 200 million pounds
of uranium resources including involvement with the Millennium, Fox
Lake, Eagle Point, and Tamarack deposits. Darcy brings a strong
technical toolkit in all stages and aspects of exploration in
diverse environments and geological settings. He is active in the
mining and exploration industry, having sat on the board of the
Nunavut/NWT Chamber of Mines, the executive of the local Canadian
Institute of Mining Geological Section, and is currently a member of
the Environment and Sustainability Committee for the Saskatchewan
Association of Professional Engineers and Geoscientists of
Saskatchewan. He earned his Bachelors degree in Geology from the
University of Saskatchewan.

The technical information in this news release has been prepared
in accordance with the Canadian regulatory requirements set out in
NI 43-101 and was approved by Darcy Hirsekorn, P.Geo., District
Geologist for the Company, a Qualified Person under NI 43-101.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium mining and
exploration company. The Companys fully-licensed Hobson Processing
Facility is central to all of its projects in South Texas, including
the Palangana ISR mine, the permitted Goliad ISR project and the
development-stage Burke Hollow ISR project. In Wyoming, UEC controls
the permitted Reno Creek ISR project. Additionally, the Company
controls a pipeline of advanced-stage uranium projects in Arizona,
Colorado, New Mexico and Paraguay, and a large, high-grade titanium
project in Paraguay. The Companys operations are managed by
professionals with a recognized profile for excellence in their
industry, a profile based on many decades of hands-on experience in
the key facets of uranium exploration, development and mining.

Contact Uranium Energy Corp Investor Relations at:

Toll Free: (866) 748-1030
Fax: (361) 888-5041
E-mail: info@uraniumenergy.com
Twitter: @UraniumEnergy
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch
Stock Exchange Information:
NYSE American: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103
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